GE Vernova (NYSE:GEV) Trading Up 1.9% After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price rose 1.9% during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $285.00 to $376.00. Royal Bank of Canada currently has an outperform rating on the stock. GE Vernova traded as high as $337.70 and last traded at $335.28. Approximately 705,940 shares changed hands during trading, a decline of 80% from the average daily volume of 3,490,342 shares. The stock had previously closed at $328.98.

Several other research analysts also recently weighed in on GEV. Wells Fargo & Company began coverage on shares of GE Vernova in a research report on Thursday, November 21st. They issued an “overweight” rating and a $385.00 target price on the stock. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price target on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price target on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEV. Castleview Partners LLC bought a new position in GE Vernova in the 3rd quarter worth approximately $28,000. Covestor Ltd boosted its holdings in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC bought a new position in GE Vernova in the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC boosted its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period. Finally, Planning Capital Management Corp boosted its stake in GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the period.

GE Vernova Stock Down 1.0 %

The firm has a 50 day simple moving average of $292.35 and a 200 day simple moving average of $218.58.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.